398 Skyline Dr · Fulton, WI 53534

$125,900

1 bd · 1.0 ba · 800 sqft · SingleFamily · 381 Days on market

Fair condition 6,098 sqft lot $157/sqft · 17% below area Est $152k · 17% under ↓ 4% since listing

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Park model with four season addition and plenty of extra space and a brand new roof! Fully furnished one bedroom but can accommodate six people sleeping. Excellent location; walk to the pool, basketball court, volleyball sand court and playground. Close to the country store that has games for kids. Large shed and a four seat golf cart included. Central air and heat for your year-round enjoyment. Home has been going for 27 years by current seller and has been well cared for. Association dues are $775 annually. Property can be used year round, but owners must be gone for 90 non-consecutive days throughout the year.

Key facts

• Four season addition
• Basketball court
• Excellent location

Tags

• FOUR SEASON ADDITION
• EXCELLENT LOCATION
• WALK TO THE POOL
• BASKETBALL COURT
• VOLLEYBALL SAND COURT
• PLAYGROUND

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $126k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-3 ($-42/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (12.9% below list).
• Recommended offer: $110k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 1.9% in Fulton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Edgerton School District (town): math 37% / reading 35% proficiency, ranked #202 of 342 in WI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edgerton Middle (math 39% / reading 41%, grade F, #144 of 383 statewide, top 39%, 424 students, 37% FRL); Edgerton High (math 22% / reading 27%, grade F, #287 of 483 statewide, top 71%, 543 students, 28% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 107 active listings in the ZIP; solid renter incomes; 629 units permitted in Rock County in 2024 (263 in 5+ unit buildings).
• This rent is only 15% of the median local income ($89k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $870 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Rock County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 381 days — a 12% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $109,697 (12.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 381 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $152,382
• List price: $125,900
• Delta: -17.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
463 Aspen Way	0.17mi	1/1.0	800 (0%)	11mo	$164,500	$206	83
464 Aspen Way	0.16mi	1/1.0	768 (-4%)	10mo	$148,000	$193	78
543 Glendale Dr	0.33mi	1/1.0	796 (-0%)	10mo	$110,000	$138	76
470 Skyline Dr	0.14mi	1/1.0	850 (+6%)	14mo	$139,900	$165	72
352 Skyline Dr	0.11mi	2/1.0 (+1)	695 (-13%)	2mo	$162,500	$234	66
36 Highview Ln	0.44mi	1/1.5	800 (0%)	13mo	$220,000	$275	66
474 Westview Ct	0.16mi	2/1.0 (+1)	902 (+13%)	0mo	$185,000	$205	66
461 Aspen Way	0.25mi	2/1.0 (+1)	725 (-9%)	3mo	$175,000	$241	65
449 Aspen Way	0.22mi	2/1.0 (+1)	732 (-8%)	13mo	$210,000	$287	59
531 Glendale Dr	0.29mi	1/1.0	680 (-15%)	14mo	$114,000	$168	50
495 Sunset Cir	0.24mi	2/1.0 (+1)	686 (-14%)	14mo	$120,000	$175	49
458 E Richardson Springs Rd	0.70mi	1/1.0	864 (+8%)	11mo	$345,000	$399	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.42×
• Total profit: $-20,605
• Equity at exit: $18,772

10-year hold

• IRR: -8.2%
• Equity multiple: 0.48×
• Total profit: $-18,159
• Equity at exit: $10,886

Cash invested: $35,252 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 3 under contract
• Months of supply: 10.8 mo (9%/mo absorbed)
• Median asking: $149,900 ($227/sqft)
• Median days on market: 65 d
• This list price: 11% of active listings are priced below it
• ARV vs active asking: -16.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 53534

• Active inventory: 107
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,097 medium
• Mortgage (P&I): −$660
• Tax est. 1.5%: −$157 /mo · $1,888/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-3

Break-even live

Break-even rent $1,101

Max offer price $125,399

Occupancy floor 95%

Sensitivity live

Price	-10% $84	-5% $40	+0% $-3	+5% $-47	+10% $-90
Rent	-10% $-90	-5% $-47	+0% $-3	+5% $40	+10% $83
Rate	-1.0pp $60	-0.5pp $29	base $-3	+0.5pp $-36	+1.0pp $-69

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,475
• Closing costs: $3,777
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $125,900 Active 381 DOM
2. 2026-08-07
   days on market $125,900 Active 380 DOM
3. 2026-08-06
   days on market $125,900 Active 379 DOM
4. 2026-08-05
   days on market $125,900 Active 378 DOM
5. 2026-08-04
   days on market $125,900 Active 377 DOM
6. 2026-08-03
   pricedays on market $125,900 Active 376 DOM
7. 2026-07-31
   days on market $127,000 Active 373 DOM
8. 2026-07-30
   days on market $127,000 Active 372 DOM
9. 2026-07-29
   days on market $127,000 Active 371 DOM
10. 2026-07-27
    days on market $127,000 Active 369 DOM
11. 2026-07-25
    pricedays on market $127,000 Active 367 DOM
12. 2026-07-22
    days on market $129,900 Active 365 DOM
13. 2026-07-21
    days on market $129,900 Active 364 DOM
14. 2026-07-18
    days on market $129,900 Active 361 DOM
15. 2026-07-16
    days on market $129,900 Active 359 DOM
16. 2026-07-16
    days on market $129,900 Active 358 DOM
17. 2026-07-14
    days on market $129,900 Active 357 DOM
18. 2026-07-13
    days on market $129,900 Active 356 DOM
19. 2026-07-12
    days on market $129,900 Active 355 DOM
20. 2026-07-11
    days on market $129,900 Active 354 DOM
21. 2026-07-10
    days on market $129,900 Active 353 DOM
22. 2026-07-09
    days on market $129,900 Active 352 DOM
23. 2026-07-08
    days on market $129,900 Active 351 DOM
24. 2026-07-07
    days on market $129,900 Active 350 DOM
25. 2026-07-06
    days on market $129,900 Active 349 DOM
26. 2026-07-05
    days on market $129,900 Active 348 DOM
27. 2026-07-04
    days on market $129,900 Active 347 DOM
28. 2026-07-03
    days on market $129,900 Active 346 DOM
29. 2026-07-02
    days on market $129,900 Active 345 DOM
30. 2026-07-01
    days on market $129,900 Active 344 DOM
31. 2026-06-30
    days on market $129,900 Active 343 DOM
32. 2026-06-29
    days on market $129,900 Active 342 DOM
33. 2026-06-28
    days on market $129,900 Active 341 DOM
34. 2026-06-28
    days on market $129,900 Active 340 DOM
35. 2026-06-27
    days on market $129,900 Active 339 DOM
36. 2026-06-25
    days on market $129,900 Active 337 DOM
37. 2026-06-23
    days on market $129,900 Active 335 DOM
38. 2026-06-22
    days on market $129,900 Active 334 DOM
39. 2026-06-19
    days on market $129,900 Active 332 DOM
40. 2026-06-18
    days on market $129,900 Active 331 DOM
41. 2026-06-17
    days on market $129,900 Active 330 DOM
42. 2026-06-16
    days on market $129,900 Active 329 DOM
43. 2026-06-15
    days on market $129,900 Active 328 DOM
44. 2026-06-14
    days on market $129,900 Active 326 DOM
45. 2026-06-13
    days on market $129,900 Active 325 DOM
46. 2026-06-10
    days on market $129,900 Active 323 DOM
47. 2026-06-09
    days on market $129,900 Active 322 DOM
48. 2026-06-08
    days on market $129,900 Active 321 DOM
49. 2026-06-07
    days on market $129,900 Active 320 DOM
50. 2026-06-02
    days on market $129,900 Active 315 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $13,164
• − Mortgage interest: −$7,052
• − Property taxes: −$1,888
• − Insurance: −$630
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$3,663
• Taxable loss: −$2,175
• Est. tax savings @ 24.0%: +$522
• After-tax cash flow: $481/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Cosmetic rehab Est. rehab $4,000–$12,000 screening

This park model has a good roof and is in fair condition, with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — basic design

Value-add opportunities

• Resale update kitchen cabinets — modernizing kitchen ↑
• Both paint exterior — enhances curb appeal ↑
• Rental replace carpet — improves comfort for renters ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Edgerton Community Elementary F WI #610/1,041 Nat'l #23,081/41,679 Middle Edgerton Middle F WI #144/383 Nat'l #6,005/14,009 High Edgerton High F WI #287/483 Nat'l #12,478/17,239

Schools (NCES district)

• District: Edgerton School District
• NCES district ID: 5504110
• Math proficiency: 37% ▼ -5.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $59,472
• Composite: 32.1/100
• National rank: #5808
• State rank: #202 of 342 in WI

Livability — Fulton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Rock County · 163,403 people
• Metro: Janesville-Beloit, WI
• Population (ZIP): 12,241
• Household income: $89,045
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 18% of renters

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Population outlook (Rock County) Hauer SSP2

• Today (2025): 163,403 people
• By 2030: 162,815 · -0.4%
• By 2040: 158,655 · -2.9%
• By 2050: 151,235 · -7.4%
• By 2075: 131,901 · -19.3%
• By 2100: 108,665 · -33.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 18% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 8%

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Political lean MEDSL · Rock

• 2024 margin: Lean D (+7.3) · D 52.9% · R 45.6% · Other 1.4%
• 2008→2024 swing: -22.0pp toward R · 2008: 29.3pp · 2024: 7.3pp
• All cycles: 2024: D+7.3 2020: D+11.2 2016: D+10.5 2012: D+23.2 2008: D+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -163.16%
• Current HPI: 256.4231
• Rent YoY: —
• Metro: Janesville-Beloit, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

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Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

-3.7% since first listed

4 events — show timeline

• 2026-01-22 Price Changed $129,900 SCWMLS
• 2025-09-03 Relisted — SCWMLS
• 2025-08-27 Contingent — SCWMLS
• 2025-07-20 Listed $134,900 SCWMLS